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Originally posted by: DonDiegoQuote
Originally posted by: pjstroh
I think I can sum up the plot. The moral of the story is we should remove regulations for the banks and let the "free market" sort out all of their bad behavior.
Actually, quite the opposite.
The film documented several individuals who through their own diligence discovered the fragility of the US real-estate market, and the derivatives derived therefrom, . . . and became multi-millionaires when it all collapsed.
The fragility was caused by greedy bankers and real estate dealers violating the regulations that were already in place and committing ever-growing fraud. And about Government employees empowered to enforce the Laws against such fraud who did not do their jobs, whether through ignorance, indifference, or collusion.
And, except for losing their money, bankrupting their firms, breaking the housing market, and destroying millions of lives, . . . no one was ever punished.
The little guys lost; and the big guys got away with it. [DonDiego said above the movie was "very informative and totally entertaining". He did not say it had a happy ending.]
The moral of the story is appropriate regulations, . . . to "regulate" the markets, not control them, . . . should be formulated. And competent Government employees should enforce them.
Good Luck with that !
